Gascoyne directors buy up

GASCOYNE Resources’ new and former chairs have taken advantage of the near three-year low in the company’s share price.

Gascoyne directors buy up Gascoyne directors buy up Gascoyne directors buy up Gascoyne directors buy up Gascoyne directors buy up

Sally-Anne Layman

Shares in Gascoyne plummeted by 54.7% on Monday after the company announced new chairman of just 16 days, Ian Murray, and managing director of seven years, Mike Dunbar, had resigned after a weaker-than-expected quarter at the new Dalgaranga gold mine.

Former Macquarie director Sally-Anne Layman, who joined the Gascoyne board last year, was appointed as chairman.

Layman bought her first parcel of Gascoyne stock this week, paying A$86,500 for 700,000 shares in an on-market trade.

Former chairman Mike Joyce, who remains on the board, also topped up his Gascoyne stake.

Joyce acquired another 250,000 shares for $30,000, taking his stake over 11 million shares and reaffirming him as the company's seventh-largest shareholder.

Gascoyne chief financial ...